Workday, Inc. (NASDAQ:WDAY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Workday, Inc. (NASDAQ:WDAY) have received a consensus rating of “Moderate Buy” from the twenty-seven analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twenty have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $287.04.

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, September 18th. Bank of America upped their price target on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $285.00 target price on shares of Workday in a report on Wednesday, September 18th. Stifel Nicolaus upped their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Barclays upped their target price on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $229.32, for a total value of $12,841,920.00. Following the transaction, the insider now directly owns 562,000 shares of the company’s stock, valued at approximately $128,877,840. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $229.32, for a total value of $12,841,920.00. Following the transaction, the insider now directly owns 562,000 shares in the company, valued at $128,877,840. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,613 shares of company stock valued at $76,348,820. 20.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Workday

Several hedge funds and other institutional investors have recently modified their holdings of WDAY. New England Research & Management Inc. raised its holdings in Workday by 13.3% in the 3rd quarter. New England Research & Management Inc. now owns 4,680 shares of the software maker’s stock worth $1,144,000 after purchasing an additional 550 shares during the period. Salvus Wealth Management LLC raised its holdings in Workday by 68.2% in the 3rd quarter. Salvus Wealth Management LLC now owns 1,573 shares of the software maker’s stock worth $384,000 after purchasing an additional 638 shares during the period. Diversified Trust Co raised its holdings in Workday by 35.5% in the 3rd quarter. Diversified Trust Co now owns 6,546 shares of the software maker’s stock worth $1,600,000 after purchasing an additional 1,716 shares during the period. GAMMA Investing LLC raised its holdings in Workday by 47.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,021 shares of the software maker’s stock worth $250,000 after purchasing an additional 327 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Workday by 2.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 75,301 shares of the software maker’s stock worth $18,404,000 after purchasing an additional 1,611 shares during the period. 89.81% of the stock is owned by institutional investors.

Workday Trading Down 2.8 %

Shares of WDAY stock opened at $235.47 on Tuesday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $240.30 and a two-hundred day moving average price of $240.05. Workday has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $62.40 billion, a P/E ratio of 42.43, a price-to-earnings-growth ratio of 4.81 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the company posted $0.40 EPS. Workday’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts anticipate that Workday will post 2.4 EPS for the current fiscal year.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.